Retirement Systems of Alabama Sells 2,874 Shares of Cimarex Energy Co (NYSE:XEC)

Retirement Systems of Alabama cut its holdings in Cimarex Energy Co (NYSE:XEC) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,430 shares of the oil and gas producer’s stock after selling 2,874 shares during the period. Retirement Systems of Alabama’s holdings in Cimarex Energy were worth $2,130,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Valeo Financial Advisors LLC lifted its stake in Cimarex Energy by 319.8% in the second quarter. Valeo Financial Advisors LLC now owns 487 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 371 shares during the last quarter. Advisory Services Network LLC increased its position in shares of Cimarex Energy by 1,170.2% in the second quarter. Advisory Services Network LLC now owns 597 shares of the oil and gas producer’s stock valued at $36,000 after acquiring an additional 550 shares during the period. Signaturefd LLC increased its position in shares of Cimarex Energy by 178.2% in the third quarter. Signaturefd LLC now owns 971 shares of the oil and gas producer’s stock valued at $47,000 after acquiring an additional 622 shares during the period. CSat Investment Advisory L.P. increased its position in shares of Cimarex Energy by 84.5% in the second quarter. CSat Investment Advisory L.P. now owns 1,127 shares of the oil and gas producer’s stock valued at $67,000 after acquiring an additional 516 shares during the period. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Cimarex Energy in the second quarter valued at about $78,000. 95.99% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE XEC opened at $46.54 on Friday. Cimarex Energy Co has a 1 year low of $37.19 and a 1 year high of $91.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.70 and a quick ratio of 0.57. The company’s 50-day moving average is $45.59 and its 200 day moving average is $52.12. The stock has a market capitalization of $4.68 billion, a P/E ratio of 6.29 and a beta of 1.32.

Cimarex Energy (NYSE:XEC) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.02). Cimarex Energy had a net margin of 21.13% and a return on equity of 13.02%. The company had revenue of $582.31 million for the quarter, compared to analysts’ expectations of $575.31 million. During the same quarter in the prior year, the firm earned $1.99 EPS. Cimarex Energy’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts anticipate that Cimarex Energy Co will post 4.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.72%. The ex-dividend date is Thursday, November 14th. Cimarex Energy’s dividend payout ratio is currently 10.81%.

XEC has been the topic of a number of analyst reports. MKM Partners decreased their price objective on shares of Cimarex Energy from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Williams Capital restated a “buy” rating and issued a $64.00 price objective on shares of Cimarex Energy in a research report on Tuesday, November 5th. Piper Jaffray Companies set a $68.00 price objective on shares of Cimarex Energy and gave the company a “hold” rating in a research report on Friday, August 16th. Wells Fargo & Co boosted their price objective on shares of Cimarex Energy from $64.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, September 20th. Finally, Imperial Capital decreased their price objective on shares of Cimarex Energy from $58.00 to $51.00 and set an “in-line” rating on the stock in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and ten have issued a buy rating to the stock. Cimarex Energy presently has a consensus rating of “Hold” and an average target price of $73.94.

Cimarex Energy Company Profile

Cimarex Energy Co operates as an independent oil and gas exploration and production company primarily in Oklahoma, Texas, and New Mexico. As of December 31, 2018, it had a total proved reserves of 591.2 million barrels of oil equivalent, consisting of 1.59 trillion cubic feet of natural gas; 146.5 million barrels (MMBbls) of oil; and 179.4 MMBbls of natural gas liquids primarily located in the Permian Basin and Mid-Continent regions.

Further Reading: Mutual Funds

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Institutional Ownership by Quarter for Cimarex Energy (NYSE:XEC)

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